Former Spartech chief Holt lands at Proto Labs

By Frank Esposito
Senior Staff Reporter

Published: February 7, 2014 12:24 pm ET
Updated: February 7, 2014 12:25 pm ET

Image By: Spartech Corp. Victoria Holt

Related to this story

Topics Injection Molding
Companies & Associations Spartech Corporation

Former Spartech Corp. leader Victoria Holt has been named president and CEO of quick-turn manufacturer Proto Labs Inc.

In a Feb. 6 news release, Proto Labs founder and chairman Larry Lukis said that Holt's "track record of leading companies with large and diverse operations…makes her an excellent choice" to lead the firm.

Maple Plain, Minn.-based Proto Labs uses injection molding and CNC machining to make custom parts for prototyping and short-run production. The publicly-held firm posted sales of $126 million in 2012.

Holt led Spartech — a leading plastic sheet maker and compounder — from 2010 until the firm was sold to PolyOne Corp. for $393 million in early 2013. She received a golden parachute payment of more than $5 million in cash, equity, pension and benefits after leaving Spartech.

Prior to joining Spartech, Holt had been senior vice president at paint, glass and coatings maker PPG Industries Inc. At Proto Labs, she will be replacing Brad Cleveland, an original employee from the firm's 2001 launch.

Cleveland has said he wants to start his own company, possibly in the alternative energy field. Cleveland's "fantastic organizational and team-building skills have made the company what it is today," Lukis said in the release.

He added that Holt "has the complementary experience to build on our accomplishments and leverage Proto Labs' strong platform in the years ahead."

In August, Proto Labs officials announced that the firm was buying a 175,000-square-foot building in Plymouth, Minn., about 10 miles from its headquarters. Proto Labs will spend about $15 million to turn the building into a production site by mid-2014.

Proto Labs already has four buildings totaling 300,000 square feet in the Twin Cities area. The firm employs 490 in Minnesota, including a site in Rosemont. Proto Labs also has facilities in Telford, England; and Yamato-Shi, Japan.

On Wall Street, Proto Labs' per-share stock price has enjoyed substantial growth. The price was near $40 in early 2013 but closed near $78 on Feb. 6. The firm has been public since February 2012.


Comments

Former Spartech chief Holt lands at Proto Labs

By Frank Esposito
Senior Staff Reporter

Published: February 7, 2014 12:24 pm ET
Updated: February 7, 2014 12:25 pm ET

Post Your Comments


Back to story


More stories

Image

Hyundai Mobis investing $24 million to expand in Slovakia

January 22, 2015 9:28 am ET

South Korean auto parts maker Hyundai Mobis has unveiled plans to invest about 21 million euros ($24.1 million) to modernize and expand the output...    More

Image

Pyramid investing in new presses as it targets sales in medical, technical molding

January 21, 2015 1:40 pm ET

Custom molder Pyramid Plastics Inc. is investing to boost its stake in medical and technical molding.    More

Image

Hart takes hands-on approach

January 21, 2015 11:06 am ET

When Melanie Hart walks the floor of one of her plants, she solves problems.    More

Image

Canada's ABC Group to launch Polish car parts plant

January 19, 2015 9:10 am ET

Canadian auto parts supplier ABC Group Inc. has unveiled plans to set up a new production facility in Bydgoszcz, in northwestern Poland, reports...    More

Image

Sleek use of plastics add function, polish to JCI concept

January 19, 2015 6:00 am ET

When the next generation of vehicle owners takes the driver's seat, they'll do a lot more than drive. That's the idea behind Johnson Controls Inc's ne...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events